Market Watch: Mokena couple pays more than 20% of home's sale price in property taxes
The home: 12348 Lajunta Court, Mokena
The 3,180-square-foot home has 4 bedrooms, 3 baths, a 3-car garage, crown molding, custom cabinetry, a stone fireplace in the family room, vaulted ceilings, large walk-in closets, custom trim throughout and a paver patio.
The seller: Donald E. Booth & Jenifer L. Booth
The purchase: In September 2007, the Booths paid $502,500 for the home, or roughly $615,918 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2007, the Booths paid $502,500 for the home, or roughly $615,918 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Booths sold the home for $459,000 on May 15, or approximately $156,918 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Booths paid $94,220 in property taxes between 2008 and 2017, or about 20.53 percent of the sale price.
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.
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The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $502,500 | $459,000 | $94,220 |
